https://www.taxtmi.com/caselaws?id=98780 The tribunal upheld the confiscation of marble due to excess weight and lack of specific import license, under the Customs Act, 1962. The fine imposed on importers was reduced from Rs. 48 lakhs to Rs. 16,20,000 considering market conditions. Changes in the Exim Policy affecting marble import valuation led to adjustments in the penalty amount, reduced from Rs. 10,00,000 to Rs. 3,00,000. The appeal was dismissed, but importers received relief in terms of fine and penalty amounts. en-us Thu, 23 Sep 1999 00:00:00 +0530 Tue, 24 Jan 2012 10:17:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98780 The tribunal upheld the confiscation of marble due to excess weight and lack of specific import license, under the Customs Act, 1962. The fine imposed on importers was reduced from Rs. 48 lakhs to Rs. 16,20,000 considering market conditions. Changes in the Exim Policy affecting marble import valuation led to adjustments in the penalty amount, reduced from Rs. 10,00,000 to Rs. 3,00,000. The appeal was dismissed, but importers received relief in terms of fine and penalty amounts. Case-Laws Customs Thu, 23 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98780